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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. The back row trainees at Solomon Brothers are victims of the myth that a trader is a _____.
(a) Quarterback.
(b) Savage.
(c) Dictator.
(d) Messiah.

2. William Simon becomes the secretary of the U.S. Treasury under which president?
(a) Jimmy Carter.
(b) Lyndon Johnson.
(c) Gerald Ford.
(d) Richard Nixon.

3. According to the book, investment banking candidates are expected to be _______.
(a) Culturally literate.
(b) Intellectuals.
(c) Brash.
(d) Open-minded.

4. Bob Dall and Stephen Joseph create the first _____ of mortgage securities.
(a) Legislative block.
(b) Private issue.
(c) Successful recall.
(d) Public offering.

5. Gutfreund's challenging of Meriwether to a game of Liar's Poker is his way of showing he is ______.
(a) A player.
(b) Boss.
(c) Wealthy.
(d) Intelligent.

6. Where is the author living in 1984?
(a) New York.
(b) Omaha.
(c) Paris.
(d) London.

7. What is the nickname for the Government National Mortgage Association?
(a) Fanny Mae.
(b) Johnny Mac.
(c) Freddie Mac.
(d) Ginnie Mae.

8. From what school does Leonard Bublick, the trainee who gets hit in the head with a paper wad thrown by the former U.S. Navy fighter pilot, get his M.B.A.?
(a) University of Iowa.
(b) University of Indiana.
(c) Oberlin.
(d) Yale.

9. The cafeteria kitchen at Salomon Brothers is known throughout Wall Street for its _____.
(a) Cleanliness.
(b) Bagels.
(c) Pretty cashiers.
(d) Health inspection warnings.

10. In the bond market, unlike the stock market, ______ are not openly stated.
(a) Commissions.
(b) Interest rates.
(c) Share quantities.
(d) Taxes.

11. Lewis sees John Meriwether as successful because he has the uncanny ability to do what?
(a) Hide money.
(b) Time his trades.
(c) Hide his state of mind.
(d) Avoid bad press.

12. What does Lewis see as John Gutfreund's "calling card" as he makes his rounds in the trading floor?
(a) Coffee grounds.
(b) A hand-written note.
(c) A slap on the back.
(d) Cigar ash.

13. For the author, the stigma of getting a job through connections is worse than the stigma of ______.
(a) Unemployment.
(b) Getting a PhD.
(c) Waiting tables.
(d) Starting at the bottom.

14. More than any other firm on Wall Street, Salomon Brothers is run by _______.
(a) Corporate finance.
(b) Traders.
(c) Analysts.
(d) Mutual fund managers.

15. The author describes England as the land of ________.
(a) Royal watchers.
(b) Haggis.
(c) Limp paychecks.
(d) Long lines.

Short Answer Questions

1. In any market, as in any poker game, there is a ______.

2. Which subway line drops off hoards of people to their Wall Street jobs?

3. Who is chairman of the Federal Reserve in 1979?

4. What is another name for an analyst in the corporate finance department at Salomon Brothers?

5. According to Lewis, the better an analyst gets at his job, the nearer he seems to ______.

(see the answer keys)

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